Sec. 667.1. Purpose of the income accounts

The income accounts, accounts 5000 through 7991, are designed to report the results of operations of a telecommunications company for each calendar year. Operating revenues shall be reported in accounts 5000 through 5302; operating expenses in accounts 6110 through 6790; other operating income and expense in accounts 7100 through 7160; operating taxes in accounts 7200 through 7250; nonoperating income and expense in accounts 7300 through 7370; nonoperating taxes in accounts 7400 through 7450; interest and related charges in accounts 7500 through 7540.2; extraordinary items in accounts 7600 through 7640 and jurisdictional differences and nonregulated income in accounts 7910, 7990 and 7991. The income accounts shall include all items of profit or loss from operations for the calendar year. The net credit or debit balance from income accounts for the calendar year shall be transferred to accounts 4550.2 Unappropriated Undistributed Affiliate Earnings or 4550.4 Balance Transferred from Income, as appropriate.